Forbo Holding AGXSWX:FORN -0.53%73 ROC (Joel Greenblatt) % is 18.12% as of Dec. 2025, which is 44% below its 10-year median of 32.32. GuruFocus rates XSWX:FORN with a GF Score™ of 73/100 and a GF Value™ of CHF879.59 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,776 Construction companies, Forbo Holding AG ranks worse than 52.48% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Forbo Holding AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 18.12%.
The historical rank and industry rank for Forbo Holding AG's ROC (Joel Greenblatt) % or its related term are showing as below:
XSWX:FORN'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 17.5 Med: 32.32 Max: 45.46
Current: 17.5
During the past 13 years, Forbo Holding AG's highest ROC (Joel Greenblatt) % was 45.46%. The lowest was 17.50%. And the median was 32.32%.
XSWX:FORN's ROC (Joel Greenblatt) % is ranked worse than 52.48% of 1776
companies
in the Construction industry
Industry Median: 19.425
vs XSWX:FORN: 17.50
Forbo Holding AG's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -12.80% per year.
Forbo Holding AG (XSWX:FORN) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Forbo Holding AG ROC (Joel Greenblatt) % Related Terms
Forbo Holding AG ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Forbo Holding AG's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:FORN vs TT, JCI, CARR: ROC (Joel Greenblatt) % Comparison
For the Building Products & Equipment subindustry, Forbo Holding AG's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Forbo Holding AG ROC (Joel Greenblatt) % vs Construction Industry
For the Construction industry and Industrials sector, Forbo Holding AG's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Forbo Holding AG's ROC (Joel Greenblatt) % falls into.
Forbo Holding AG ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of 18.12% mean?
Forbo Holding AG (XSWX:FORN) has a ROC (Joel Greenblatt) % of 18.12% as of Dec. 2025. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Forbo Holding AG and its competitors. This is 44% below median its historical median of 32.32. Over the past decade, Forbo Holding AG's ROC (Joel Greenblatt) % has ranged from 17.50 to 45.46. According to the industry distribution chart, Forbo Holding AG ranks #932 out of 1776 companies in the Construction industry, placing it in the top 52.5%.
Is Forbo Holding AG's ROC (Joel Greenblatt) % too high?
Forbo Holding AG's current ROC (Joel Greenblatt) % of 18.12% is 44% below median its 10-year median of 32.32. Over the past 10 years, this metric has ranged from a low of 17.50 to a high of 45.46. The Construction industry median ROC (Joel Greenblatt) % is 19.43. Forbo Holding AG's value of 18.12% is 6.7% below this industry median. Based on the distribution chart, Forbo Holding AG ranks #932 out of 1776 companies in the Construction industry, which is below the industry midpoint. Overall, Forbo Holding AG has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Forbo Holding AG's ROC (Joel Greenblatt) % compare to TT and JCI?
According to the Construction industry distribution chart, Forbo Holding AG ranks #932 out of 1776 companies for ROC (Joel Greenblatt) %. This places Forbo Holding AG in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 19.43. Forbo Holding AG's value of 18.12% is 6.7% below this benchmark. Historically, Forbo Holding AG's own ROC (Joel Greenblatt) % has ranged from 17.50 to 45.46 over the past decade. While the company's 10-year median is 32.32 vs. the industry median of 19.43, Forbo Holding AG has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Construction company?
The median ROC (Joel Greenblatt) % among Construction companies is 19.43, based on 1,776 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Forbo Holding AG's current ROC (Joel Greenblatt) % of 18.12% is 6.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Forbo Holding AG and its competitors. For the Construction industry, the median ROC (Joel Greenblatt) % is 19.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forbo Holding AG's current ROC (Joel Greenblatt) % is 18.12%, which is 44% below median its own 10-year median of 32.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forbo Holding AG stock overvalued right now?
Based on GuruFocus' analysis, Forbo Holding AG (XSWX:FORN) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF879.59, compared to a current price of CHF751.00 — trading 14.6% below its estimated fair value. The current ROC (Joel Greenblatt) % is 18.12%, which is 44% below median its 10-year median of 32.32 and 6.7% below the Construction industry median of 19.43. Forbo Holding AG's overall GF Score™ is 73/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Forbo Holding AG (XSWX:FORN), the current ROC (Joel Greenblatt) % is 18.12% as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Forbo Holding AG (XSWX:FORN) Overvalued in 2026?
Based on GuruFocus' analysis, Forbo Holding AG stock appears to be undervalued.
The current stock price of CHF751.00 is trading 14.6% below its estimated GF Value™ of CHF879.59.
GuruFocus considers Forbo Holding AG to be Modestly Undervalued.
Key valuation signals for XSWX:FORN:
ROC (Joel Greenblatt) %: 18.12% (44% below median its 10-year median of 32.32)
GF Value™: CHF879.59 vs. price of CHF751.00 (14.6% below fair value)
Industry Position: 6.7% below the Construction median (#932 of 1776)
No single metric tells the full story. See the XSWX:FORN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forbo Holding AG manufactures and sells flooring and movement systems. The company organizes itself into two segments based on product type. The Flooring Systems segment, which generates the majority of revenue, sells commercial and residential floor coverings, entrance flooring systems, and building and construction flooring adhesives to the construction and remodeling industries. The Movement Systems segment sells conveyor and processing belts, plastic modular belts, power transmission belts, and flat modular belts, to the food, automotive, and fitness equipment industries. The majority of revenue comes from Europe, and also has its presence in Americas and Asia/Pacific and Africa.
73GF Score
Get the complete analysis for XSWX:FORN
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:FORN has been successfully added to your 
